article thumbnail

How Retailers Can Use AI to Improve Customer Experience and Build Trust

Retail TouchPoints

trillion by 2027 – representing over 20% of overall retail sales. Additionally, global ecommerce spending could surpass $7 trillion as early as 2025. To combat this challenge, modern retailers are embracing AI to help improve the customer experience by increasing speed of service and adding a more personalized touch.

article thumbnail

Harnessing the huge marketing potential of subscription services

365 Retail

Subscription services really took off in 2020 thanks to a combination of lockdown driving online shopping, consumers’ desire to save money, and the innate convenience of the subscription model. billion by 2025. 48% of those who had taken out a new subscription service in 2021 cancelled within the first two months.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Top Risks For Retail Businesses In 2021 (And in The Next Decade)

Retail TouchPoints

With the adoption of e-commerce on the rise, brick and mortar retail businesses face increased risks of having to shut down. million by 2025, up from $431.6 While going digital is not exclusively reserved for bigger brands, small retail businesses may not necessarily have the knowledge or funds to take the step.

eCommerce 299
article thumbnail

With Growth Top-of-Mind, Luxury Brands Focus on Digital Goods and Virtual Experiences

Retail TouchPoints

Despite these hardships, experts expect a rebound in local and international spending. “China is on track to become the world’s largest personal luxury market by 2025,” said Mei Chen, Director of Fashion and Luxury North America, UK and Northern Europe – Globalization Business, Alibaba Group, in an interview with Retail TouchPoints.

Payments 274
article thumbnail

What is a Hybrid Retail Store? A New Concept To Increase Your Retail Sales

Korona

The retail industry has witnessed significant changes in recent years. Amazon and other online retailers have expanded into other forms of distribution. . In response to this, many retailers have implemented features such as online purchase and in-store pickup (BOPIS).

article thumbnail

What is a Hybrid Retail Store? How To Adapt Your Retail Business

Korona

The retail industry has witnessed significant changes in recent years. Amazon and other online retailers have expanded into other forms of distribution. . In response to this, many retailers have implemented features such as online purchase and in-store pickup (BOPIS). What does hybrid retail mean?

article thumbnail

Are online marketplaces the future of eCommerce shopping?

365 Retail

In fact, ThredUp projects revealed the industry is expected to reach ÂŁ64m in value globally in 2025. The report further reveals that the resale market is set to grow 11 times faster than the traditional retail clothing sector. The rise of online marketplaces.